ITFA NEW MEMBERS, Mar 2023

ITFA is pleased to welcome seven institutions to its growing family:

The Asian Development Bank (ADB), a multilateral development bank, was established in 1966 under the agreement establishing the Asian Development Bank (ADB Charter).  ADB is owned by 68 members countries, 49 of which are regional members providing 63.4% of its capital and 19 non regional members providing 36.6%.  ADB is committed to achieving a prosperous, inclusive, resilient and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB assists its members and partners by providing loans, guarantees, technical assistance, grants, and equity investments to promote social and economic development. Under ADB’s private sector operations department, the trade and supply chain finance program (TSCFP) consists of the trade finance program (TFP) and the supply chain finance program (SCFP), under which ADB provides loans, guarantees, technical assistance and initiatives to support global trade involving its developing member countries (DMCs).

The contacts for ITFA at ADB are:

• Mr. Can Sütken, Senior Investment Specialist
• Mr. Ben Sandstad, Senior Counsel
• Ms. Aparna Soni Bhalla, Relationship Manager
• Ms. Maria Czarina Lopez – De Leon, Associate Information Resources and Services Coordinator (Membership Administration)

CRX Markets is Europe’s leading independent marketplace for working capital finance. Through its proprietary software solutions that seamlessly link the Corporates’ ERP systems with the CRX Marketplace, its clients can automate working capital transactions on both sides of the balance sheet and access a diversified pool of over 40 active funding partners.

After the go-live in 2015, CRX Markets embarked on a rapid and sustainable growth path gaining the trust of large multinational clients such as, among others, Nestlé and Mercedes-Benz. Today, CRX Markets is facilitating more than USD 20bn of payables and receivables financing per year. While its origination is still focused on Europe, CRX Markets covers a network of buyers, suppliers and funding partners in more than 60 countries and runs working capital finance programs in Europe, North America and Asia. The company is regulated by the German financial regulator BaFin. Headquartered in Munich, CRX Markets employs a staff of over 80 people.

In 2008, Mr Matthew Wilson, the Senior Director Enterprise ANZ at C2FO and the main ITFA contact obo C2FO, explained that they began building an on-demand working capital platform that matched the accounts receivable and accounts payable for hundreds of thousands of companies. This digital solution enabled suppliers to receive early payment on their invoices but in a unique way using proprietary technology that allows suppliers to nominate a rate that suites their circumstanced; “name you own rate”.  Their customers used the invoice discounts to safely increase margins and profits, while ensuring the health of their supply chains and in most cases removing indirect costs to bring about greater efficiency.

Since their first transaction in March 2010, C2FO has generated more than $262 billion in working capital funding in 45 different currencies. Our network of companies on the C2FO platform now includes over 2 million relationships across 160+ countries.  C2FO is heavily invested in empowering all businesses to thrive.  In 2022 we assist in accelerating over $4.7B funding to diverse businesses and 1,349 women or minority owned businesses received funding.  Headquartered in Kansas City, C2FO today has expanded and now includes five operational centres, United States, United Kingdom, India, China and Australia. 

At the same time, they have evolved to provide more working capital solutions to companies, their suppliers and their customers. Matthew stated that their supplier customers today can use C2FO to access the capital they need to grow their business through a suite of working capital solutions. Enterprise customers can use their own balance sheets or third-party funding from C2FO’s network of lending partners.  Last year, C2FO launched an innovative card program that’s unlike any other on the market: the CashFlow+ Card. Users ask for early payment of their invoices on the C2FO platform and then load those funds onto a Visa card that can be used to pay bills, buy inventory and more.

International Metal Platform AG is a neutral B2B Market Place for the spot trading of ferro-alloys, noble alloys, and minor metals with total trader anonymity.

Built by the industry and for the industry, IMP brings for the first time, accurate and timely price discovery, and transparent regional price references for physically delivered metal on an In Warehouse basis conforming to industry standard contract specifications. The CEO, Mr. Udo Ulrich Klein is the main contact for ITFA matters.

Udo stated that IMP presents a new forum for spot trading that allows users to take or offset price risk, while protected within a trusted community of participants screened and onboarded against leading standards in KYC and compliance monitoring checks, with post trade payments settled via UniCredit Bank AG.

Designed by experienced industry partners, using modern trading engine technology, IMP has been intelligently constructed to immediately benefit users from game changing developments in international commercial legislation that will, for the first time, recognise Digital Warehouse Receipts as legal documents of title.

CoriolisESG by TradeSun is propelling sustainability with the world’s first automated environmental, social and governance scoring solution. Their mission is to promote the transition to sustainable trade and reduce business risk, empowering actors across trade and supply chains. It does this by assessing and quantifying ESG risk through automated data aggregation, leveraging state-of-the-art technologies, such as artificial intelligence and curated machine learning.

The automated ESG scoring and risk analysis capabilities have been developed in collaboration with more than 70 financial institutions, banks and professional bodies.

CoriolisESG by TradeSun, delivered via web browser or API, enhances enterprise intelligence and resilience by measuring company data against globally recognised frameworks, including the UN Sustainable Development Goals and the EU Taxonomy.

The main delegate obo TradeSun is the CRO, Mr. Ian Laverty.

vabble.io is a fintech startup that aims to enhance access to liquidity for export companies in Emerging Markets by monetizing their receivables from reliable US, EU, and UK buyers. The company connects these businesses directly with institutional investors in the UK, US, and EU. They offer a user-friendly platform that streamlines the process through a unique legal framework and workflow automation. vabble.io is committed to revolutionizing access to liquidity and has received praise from the likes of the World Bank for the positive impact they stand to create in Emerging Markets. The company is poised to make a significant contribution in the industry, and it is an essential player to follow for those interested in fintech and emerging markets. To view our presentation, please click here: https://pitch.com/v/itfa-qnkg5x

Yapi Kredi Nederland is a leading financial institution committed to providing exceptional service and innovative solutions to meet your financial needs. With a history of serving our community for over 20 years, Yapi Kredi Nederland is a trusted name in Banking. We offer a comprehensive range of financial products and services, including retail, corporate, and private banking services, as well as corresponding banking activities. Team of experienced bankers is dedicated to delivering personalized attention and tailored advice to help our clients achieve their financial goals. At Yapi Kredi Nederland, we strive to build a strong relationship with our customers and the communities we serve. We are proud to be a trusted partner in your financial journey and look forward to helping you achieve your dreams.

Mr. Yigit Apaydin is the main delegate for Yapi Kredi Nederland NV.

Interested in joining our growing institution? Please click here » Membership Benefits (itfa.org) for more information or send us an email on info@itfa.org